© Reuters. Pzena Investment Management increased stake in National Oilwell Varco Inc
On the 31st of December, Pzena Investment Management added 8 million National Oilwell Varco Inc (NYSE:) shares for $109 million at an average price of $13.73 per share.
Shares of National Oilwell Varco Inc are down -11.00% since the transaction.
Pzena Investment Management’s holding in National Oilwell Varco Inc increased to about 40 million shares with the purchase.
Pzena Investment Management first bought National Oilwell Varco Inc stock in the second quarter of 2018.
Pzena Investment Management also owns Halliburton Co (NYSE:), TechnipFMC Plc (NYSE:) and NexTier Oilfield Solutions Inc. (NEX).
National Oilwell Varco Inc is its number two position by number of shares and market value among energy equipment & services stocks.
Other investors who also added to their National Oilwell Varco Inc shares include First Eagle Investment Management, California State Teachers Retirement System, and Fisher Asset Management.
In contrast, Ariel Investment, Dodge & Cox, and Eaton Vance (NYSE:) Management reduced NOV shares, while Victory Capital Management and Carillon Tower Advisers sold all their NOV shares.
Pzena Investment Management also reduced their share in Hooker Furniture Corporation (NASDAQ:) and JELD-WEN Holding, Inc. (NYSE:).
The total value of the shares sold is estimated at around $92 million.
Additionally, Pzena Investment Management added to their share in Avnet Inc (NASDAQ:), PVH Corp (NYSE:) and Motorcar Parts of America, Inc. (MPAA).
The total value of the shares bought is estimated at around $203 million.
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